Credit Protection Insurance

Credit protection insurance is a good example of a consumer rip-off that affects millions of people, yet receives little attention in the financial media. Simply stated, you should NEVER buy "credit protection insurance," or a "payment protection plan" or any other similar type of credit-related insurance. Let's take a look at how these programs work and why they are a bad deal for the average consumer.

First, let's dispense with the scam version of this insurance. With identity theft in the news so much lately, con artists have set up telemarketing boiler rooms to call people and try to scare them into buying worthless credit insurance products. Representatives will try to convince you that you're at risk if someone gets hold of your card and starts making fraudulent purchases in your name. When they call, they may even pretend to be from the "security department" of your bank. In fact, they may actually be part of an identify theft ring, with the goal of getting you to disclose personal information over the phone. Or they may simply be trying to make a fast buck by selling you an insurance policy that you absolutely don't need.

Under Federal law, you are limited to a maximum of $50 liability for unauthorized use of your credit card. If you didn't authorize a charge, don't pay it! Follow your credit card bank's procedure for disputing bogus charges. You simply don't need insurance to protect yourself from a situation that is already covered by Federal law!

Now, what about those "payment protection plans" offered directly by the big credit card banks? These are plans that promise to cover your minimum monthly payments for an extended period of time (usually 12-24 months) if you get laid off from your job, become hospitalized due to an accident or illness, or become disabled. On the surface, a plan like this sounds like a pretty good idea. After all, how could you keep up with your payments if you suddenly lost your job or became too ill to work?

Of course, you should not be carrying balances on your credit cards anyway. If everyone paid their balances in full every month, then credit protection insurance would not even exist in its current form. You are charged for the insurance based on the amount of debt you're carrying on the card, so if the balance is zero, then there is no fee. In fact, some bank representatives use this as part of the sales pitch when trying to entice people to sign up for that "free 3-month trial" on their payment protection plan! They attempt to talk you into adding the insurance now, while you don't need it and when there is no cost, in the hope that one day you will start carrying a balance. By then, you'll probably have forgotten you signed up, and you'll wonder what those mysterious charges are on your statement every month.

If you do carry balances on your cards, credit protection insurance is still a very bad deal. To see why, let's look at the math here. A typical loss protection plan costs 85 cents for every $100 of balance carried on the card. So if you're carrying a debt of $5,000 on the credit card, it will cost you $42.50 per month to buy the insurance. Over the course of 12 months, you will spend $510 under this scenario. That's equivalent to paying an extra 10% in annual interest!

A light bulb should be shining over your head right about now. Why not take that same $42.50 per month and use it to pay down the balance faster? Good question. When you consider that most consumers who have credit protection carry it year after year, without ever becoming eligible for a claim against the insurance policy, the amount of wasted money can add up to a truly staggering sum.

Continuing with our $5,000 example, with a typical minimum payment of $125/month, it will take more than 26 years to pay off the balance in full, at a cost of $7,115.42 in interest. By applying that extra $42.50 per month that would otherwise go toward the insurance, for a total monthly payment of $167.50, you'll have the debt paid off in only 40 months! And you'll have saved $5,435.22 in interest charges. It simply makes no sense to waste this money , especially when you consider that the credit protection plan is normally only good for 12-24 months anyway.

There's another important factor involved here. Credit protection is also a bad deal because the eligibility requirements are so very restrictive. When you read the fine print, you'll realize that there are all kinds of situations that aren't covered. Let's say, for example, that you've been fighting a medical condition for some time. So you buy the insurance thinking it's a good idea. Eventually, you end up in the hospital for treatment and recovery. Can you breathe a little easier knowing your credit card payments are covered? Nope. Most of these policies have exclusions for pre-existing conditions. And there are numerous other loopholes that allow the bank to deny your claim under the policy. In view of the lousy math and the restrictive nature of this type of insurance, these programs should really be named "bank profit protection" instead of "credit protection insurance." Instead of spending good money on an insurance plan that you will probably never use, you're far better off applying that same amount toward paying off the debt early.

Author: Charles J. Phelan has been helping people become debt-free without bankruptcy since 1997. A former executive in the debt settlement industry, he teaches the do-it-yourself method of debt negotiation. Audio-CD material plus expert personal coaching helps consumers achieve professional results at a fraction of the cost. http://www.zipdebt.com.

- baLooT Inc 2007 -

Equine Insurance

Whether you are the owner of a single horse, the proprietor of a boarding stable, or a horse trainer, chances are you should be protected by equine insurance. The question is, what type of insurance do you need, and how much? We've outlined several different types of equine insurance below. Before making any final decisions, always consult with your insurance agent and/or your lawyer to determine the type and amount of coverage you need.

Individual Horse Owner's Liability

If you are an individual horse owner, it is important to be covered for any property or bodily damage that you horse might cause. Sometimes your homeowner's policy will cover damages caused by your horse, so check your policy carefully. If your policy does not cover these things, contact an equine insurer to determine what types of additional coverage you need. How much do you need? That depends on your situation and your agent, or a lawyer, can help you. A good rule of thumb is the more personal assets you have, the more coverage you need. Coverage should include the promise to pay all sums you are legally obligated to pay for bodily injury and property damage arising from horse ownership, plus the cost to defend you.

Commercial Equine Liability

Commercial liability is needed by those who perform any commercial equine activities such as boarding, instruction, training, and breeding. This coverage protects you in the case you are sued by a third party who is injured or whose property is damaged. As any damage that exceeds your policy limits will come out of your personal assets. Again, the more personal assets you have, the more coverage you need.

Equine Professional Liability Coverage

If you derive any income from horses, this type of insurance provides coverage and defense fees resulting from any negligent act, error, or omission by the insured's professional equine activities.

Mortality

This is the type of insurance that can be most confusing to the horse owner. Whether or not to insure your horse, and for how much, basically boils down to how much you need the horse, whether you can afford to replace him, and your risk tolerance. If your horse is a source of revenue to you, chances are you will want to insure him for his full value. In contrast, you may be able to afford to replace your beloved family pleasure horse (we're talking money here, not emotionally!) and insuring this horse might not be worth the premiums. A mortality policy pays the actual value of the horse at the time of the accident or illness causing the horse's death, not to exceed the value specified in the policy.

Major Medical

This type of insurance is available to horses insured for mortality. Major medical insurance reimburses the veterinarian's fees for surgery, major illness, and disease. Because these things can be quite expensive, major medical is worth it to the horse owner without a lot of cash on hand. Deductible and per year limits vary by policy.

Loss of Use

This is an important type of insurance for those who use their horses for livelihood. It covers you in the case that your horse becomes totally and permanently incapable of fulfilling the functions for which it is used. Most policies pay a percentage of the horse's value when it has been determined that it can not be used in the way stated on the policy. Many policies reserve the right to take the animal upon payment. Other policies pay a percentage but still allow you to keep your horse.

• • • • •

These are some of the more common types of insurance available to horse owners. For insurance tailored to your specific individual or business needs, contact an equine insurance specialist.

Author: Ron Petracek is the founder of Equine Internets vast 15 site classified and social network. You can view its amazing size here Http://www.equineinternet.com/network.php or to further your equine habit please visit our forum by clicking here http://www.horsechitchat.com/equineforums and start posting Need to sell a horse or tack? place a free ad here http://www.click4equine.com and always the barn door in left open on purpose.

- baLooT Inc 2007 -

Cheap Loan Protection Insurance Can Be Found

The consumer’s faith in loan protection has taken a beating recently, however without a doubt having the cover should be given some serious consideration and cheap loan protection insurance can be found if you know where to take it from. By far the best way to purchase your cover is to go with a standalone provider, only then can you be sure that you are going to get the cheapest quote for the premium on the loan protection.

Loan protection is usually offered alongside a loan or credit card by the high street lender, but purchasing the cover this way without first investigating your other options, is a sure way to get ripped off when it comes to paying the premium.

While not many like to think of the worst happening it can and if you should find yourself out of work due to an accident, long term sickness or unemployment then you could find yourself struggling to meet the monthly loan repayments. This is when a policy will come into play. Usually you have to be out of work for a specified amount of days but following this the cover will make sure you have enough money to pay your commitments on your loan.

Consumers do have the right to shop around for the best deal although many high street lenders will try to persuade you that the cover has to be taken out alongside the loan or credit card. Don’t fall for tricks such as these, as cheap loan protection insurance can be found by going with a specialist provider and doesn’t have to be taken alongside the loan from the same lender. You are free to shop around and you can go independently.

High street lenders are notorious in the media for over charging on the premiums for loan protection insurance often along with providing policies that are inferior to the products sold by a specialist provider. A specialist provider can not only help you to get the cheapest loan protection insurance premium but will also be able to provide you with a product of high quality which gives you the peace of mind you need should the worst come to the worst.

Faith in the product does need restoring and a specialist provider can help to do that, along with cheaper premiums and quality products a standalone provider can and will offer the best advice regarding a policy that is suitable for your needs.

Author: Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance.

- baLooT Inc 2007 -

If you are a business owner, self-employed or an employee of a company that is not offering medical coverage though your employer, you may have to undertake the frustrating, daunting and time consuming task of purchasing health insurance on your own. If this is the case, there are certain things that you can do as a consumer to ensure that you are purchasing the type of health insurance coverage you really need at a price you can afford.

When you purchase a health insurance plan, you must achieve a balance between four important variables; wants, needs, risk and cost, before you spend your money. Although you may "want" a health plan that offers you 100% coverage and a $5 co-pay for prescription medications, you may not "need" this type of health plan if you are healthy, take no medications and do not have any significant health related "risk" factors. Since a 100% health plan may "cost" significantly more than a health plan with 80/20 coverage, it may not be in your best interest to pay higher monthly premiums for coverage that you are not likely to use.

In addition to weighing the aforementioned key variables, it is also critical that you understand the limitations of your coverage. The following is a list of 10 key questions that you should ask your insurance agent, before making a decision to purchase a health insurance policy.

1. What insurance company do you represent and are you a "captive" agent, "independent" agent or insurance "broker?" (e.g. A "captive" agent usually represents ONE insurance company and can usually only sell that company's insurance products. An "independent" agent or insurance "broker" usually represents many insurance carriers and can sell a variety of insurance products.)

2. What is the plan's calendar year deductible and would I have to pay a separate deductible for each family member if everyone in my family became ill at the same time? (e.g. The majority of health plans have a per person calendar year deductible, for example, $250, $500, $1,000, or $2,500. However, some plans will only require you to pay a 2 person maximum deductible each calendar year, even if everyone in your family needed extensive medical care.)

3. What is the plan's coinsurance percentage and what dollar amount (stop loss) it this percentage based on? (e.g. A plan with 80/20 coverage means you pay 20% of some dollar amount. This dollar amount is also known as a stop loss and can vary based on the type of policy you purchase. Stop losses can be as little as $5,000 or $10,000 or as much as $20,000. It is also important to note that some policies have NO stop loss.)

4. What is the plan's maximum out of pocket expenses per year? (e.g. This expense is a total of all deductibles plus all coinsurance percentages plus all applicable "access fees" or other fees.)

5. What is the plan's lifetime maximum benefit if I become seriously ill and does the plan have any "per illness" maximums or caps? (e.g. Some plans may have a $5 million lifetime maximum, but the policy many stipulate that there is a maximum benefit cap of $100,000 per illness. This means that you would have to develop many separate and unrelated life-threatening illnesses costing $100,000 or less to qualify for $5 million of lifetime coverage.)

6. Is the plan a schedule plan, in that it only pays a certain amount for a specific list of procedures? (e.g. Mega Life & Health & Midwest National Life, endorsed by the National Association of the Self-Employed, N.A.S.E. agents are known for selling schedule plans.)

7. Does the plan have unlimited doctor co-pays or is there a limited number of doctor co-pay visits per year? (e.g. Many plans have a limit of how many times you can go to the doctor per year for a co-pay and, quite often, the limit is 2-4 visits.)

8. Does the plan offer prescription drug coverage and if it does what type of coverage? (e.g. Some plans offer prescription benefits right away, other plans will require you to pay a separate drug deductible before you can receive prescription medication for a co-pay. Today, many plans offer no outpatient prescription drug co-pay options and only provide you with a discount prescription card that gives you a 10-20% discount on all prescription medications.)

9. Does the plan have any reduction in benefits for organ transplants and if so, what is the maximum the plan will pay out for an organ transplant? (e.g. Some plans only pay a $100,000 maximum benefit for organ transplants for a procedure that actually costs $350-$500K and this $100,000 maximum may also include reimbursement for expensive anti-rejection medications that must be taken after a transplant. If this is the case, you may be required to pay for anti-rejection medication out of pocket.)

10. Does the plan have any separate deductible or "access fee" for each hospital admission or for each emergency room visit? (e.g. Some plans, like the Assurant Health's "CoreMed" plan have a separate $750 hospital admission fee or "Access Fee" that you pay for the first 3 days of a hospital admission. "Access Fees" are in addition to your plan deductible. Also, many plans have benefit "caps" or "access fees" for out-patient services, such as, physical therapy, speech therapy, chemotherapy, radiation therapy, etc. Benefit "caps" could be as little as $500 for each out-patient treatment, leaving you a bill for the remaining balance. Access fees are additional fees that you pay per treatment. For example, for each outpatient chemotherapy treatment, you may be required to pay a $250 "access fee" per treatment. So for 40 chemotherapy treatments, you would have to pay 40 x $250 = $10,000.

Remember, your health insurance purchase is just as important as purchasing a house or a car, if not more important. So don't be afraid to ask your insurance agent a lot of questions to make sure that you understand what your health plan does and does not cover. And, most importantly, read all of the "fine print" in your health plan brochure and when you receive your policy, take the time to read through your policy during your 10-day free look period.

Lastly, if you have any concerns about an insurance company, contact your state's Department of Insurance BEFORE you buy your policy. Your state's Department of Insurance can tell you if the insurance company is registered in your state and can also tell you if there have been any complaints against that company that have been filed by policy holders. If you suspect that your agent is trying to sell you a fraudulent insurance policy, (e.g. you have to become a member of a union to qualify for coverage) or isn't being honest with you, your state's Department of Insurance can also check to see if your agent is licensed and whether or not there has ever been any disciplinary action previously taken against that agent.

Sponsored by: http://www.balootisme.com

10 QUESTIONS YOU SHOULD ASK YOUR HEALTH INSURANCE AGENT

© 2007 Small Business Insurance Services, Inc. www.smallbusinessinsuranceservices.com

Author: C. Steven Tucker is the President of Small Business Insurance Services, Inc., and has been a licensed multi-state health insurance broker servicing the small business and self-employed community for over a decade. Steve has written many blog articles that focus on health insurance and consumer education. Email:smallbusinssvc@aol.com

If you searched online today hoping to find cheap car insurance for young drivers, Texas Home and Auto Insurance can start working for you today. If you are a parent investing in your teen's first car, we can find you the best rates on cheap car insurance for young drivers. If you just graduated from college, found your first job, and bought a new car, we have cheap car insurance for young drivers in our young professionals program. If your last carrier advertised cheap car insurance for young drivers on late night television and you bought it, we can give you a much better rate here as a new customer approaching thirty.

Many people ask us, "How can you provide cheap car insurance for young drivers when young drivers are the most high risk drivers on the road?" There are several answers to this question. First, we at Texas Home and Auto Insurance do not consider the term "high risk driver" as a fixed absolute. (See why in our section entitled "Car Insurance for High Risk Drivers to learn why we believe this). Secondly, we quote cheap car insurance for young drivers much differently than our competitors. Almost anyone can offer you a "quick quote" on the spot. TV commercials, radio spots, newspaper ads, and Spam Emails are full of these solicitations that make all kinds of promises to parents and young people alike on how they can deliver cheap car insurance for young drivers in a matter of minutes. Such gimmicks are not only nonsense, they border on the unethical.

Cheap car insurance for young drivers takes time to prepare, and we at Texas Home and Auto take as much time as we need for each individual customer to ensure that we offer them the very best rates. We spend considerable time developing discounts that are often lost in "quick quote" processes by implementing our specialized exposure analysis formula. "Exposure" refers to the anticipated total "payout" on any risk where a loss occurs. By analyzing such factors as where our drivers live, where and when they drive their vehicles, and the number of hours they spend behind the wheel, we can find discounts in multiple arenas that will total up to the very best cheap car insurance for young drivers the insurance business can offer. Don't be discouraged either if you have had multiple accidents or accrued a bad-driving record. In the event that we cannot give you the very best rates we will find another carrier in Texas who provides cheap car insurance for young drivers and refer you directly to their office. Regardless of whether you are a parent, a student, or an up and coming professional, we will not leave abandoned on the side of the road.

George White, founder of Texas Home and Auto, has devoted his time and experience since 1983 to develop cheap car insurance for young drivers that is unsurpassed in both premium rate and attention to policy detail.

Sponsored by: http://www.balootisme.com

Author: George White personally has over twenty-five years experience in all facets of the Texas property and casualty insurance industry, including three years in underwriting, two in finance, one year in the comptrollers office, and four years in claims evaluation as a licensed examiner. This has given George White a broad understanding of all aspects of the insurance industry and the many complex perspectives that are involved. He will work to provide

Cheap Car Insurance for Young Drivers

Car Insurance - Premium Drop?

It was announced recently that the average cost of car insurance has dropped slightly heralding possible, further decreases this year. It was thought that we would continue to see a rise in the price of car insurance premiums this financial year, following the record highs at the end of last year.

The typical quoted premium given as reference last year by the AA's British insurance premium index, was stated as £806, whereas this had dropped by £4 to £802 during the first quarter of 2007. This is still only marginally below the all time high.

During February, it was also announced that premiums were rising with young drivers and woman being targeted in particular. Drivers under the age of 25 will find it particularly hard to find cheap car insurance due to a rise of around 5.8% over the preceding 12 months.

Unfortunately opting for third party, fire and theft, a popular choice for those under 25, will prove to be equally as expensive, as this is earmarked for an upward progression throughout the proceeding year. This is thought to be due to the commonly quoted fact that these drivers are 5 times more likely to be involved in a car accident than a person of age 35 and over.

Don't worry those of you unfortunate enough to be included in this category, many online insurance companies are currently offering special introductory rates for those of you willing to do a bit of searching. Another way of saving money on a car insurance policy is to check out the hidden extras you may be paying for. For example, most policies include optional extra legal protection and hire car option, which if not essential will produce a saving when taken off the policy. Also, don't forget to check out the excess stated on the policy as a larger voluntary excess will reduce the premium price noticeably.

But still it must be taken as good news for the rest of us that at least there has been a drop on the price of the average car insurance policy. This is especially important after the recent budget announcement that many larger cars would see a noticeable increase in car tax prices.

- baLooT Inc 2007 -

How to Find an Affordable Life Insurance Policy Online

You want to buy life insurance to protect your family in case of your death, but you don't want to spend more than you have to. Fortunately, the Internet is a great source for finding an affordable life insurance policy.

Finding Affordable Life Insurance Online

To help you find an affordable life insurance policy online, start by signing on to an insurance comparison website. Such websites will give you fast access to affordable life insurance quotes from numerous A-rated insurance companies.

On the best sites, you'll also have access to licensed insurance professionals who can answer your questions and help you choose an affordable life insurance policy that's right for you and your family. (See link below.)

When you get to the insurance website, you'll complete a form with information about your ...

* Desired insurance coverage * Job * Hobbies * Health and medical history

So the insurance website can match you with the best companies and provide you with accurate quotes, it's important that you complete the form accurately, completely, and honestly. If you don't admit that your hobby is skydiving and you later die in a skydiving accident, your family may not receive the death benefit you wanted them to have.

Insurance Tips

There are some ways you can make your online life insurance policy more affordable:

* Find out if you can save money by paying your premium annually instead of monthly.

* Don't get more life insurance than you need. As you decide how much life insurance you need, take into account any life insurance benefits you have through your job and any Social Security benefits your survivors might receive. * If you want the investment benefits offered by a whole life policy, look for a no load policy, which will be more affordable.

* If your health isn't the best, work on improving it. Stop smoking, begin an exercise program, lose weight, or do whatever else you need to do to improve your health.

Visit http://www.LowerRateQuotes.com/life-insurance.html or click on the following link to get an affordable life insurance policy quote online and see how much you can save. You can also get more insurance tips there.

About the Author

The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written a number of articles on how to find an affordable life insurance policy online.

- baLooT Inc 2007 -

Where To Find Auto Insurance Quotes

There are many ways to find auto insurance quotes. Some insurance companies offer free online quotes as they make their presence known for offering cheap car insurance. The easiest way to get auto insurance quotes will be online. This way you can receive many different quotes from many different companies instead of just a handful. Many websites offer online quotes after you answer some question about your personal information and your driving record along with how many drivers and the education level of everyone.

One good website with a good reputation for service and for being fast with quotes is insweb.com, but some others also offer free auto insurance quotes online such as insure.com and some insurance companies themselves offer quotes from many different places. Just keep in mind, you need to check all quotes and just because the auto insurance quotes are low, does not mean that the insurance is the best for you. Cheap car insurance does not always come with the needed coverage in case of an accident.

Before you decide on the car insurance company check their service record as far how fast they handle the claim, certifications and ratings. Auto insurance quotes do not always come from fast and friendly insurance companies. If you want to do comparison-shopping, try carinsurance.com for a wide variety of auto insurance quotes to do a comparison.

Cheap car insurance comes with a price later on if you do not obtain enough coverage. Always try to work with car insurance that not only gives you auto insurance quotes that are low, but also quotes that provide coverage above the minimum requirements. If you look for auto insurance quotes online you will find so many different places offering cheap car insurance, but one thing to keep in mind, these places do not do a credit check or driving record check until you choose a specific company, they ask you to submit your information.

Once you supply the information, then select their company, they do a full check. This may cause the auto insurance quotes to go up or down depending on what they find out when thoroughly checking your records. After you receive the final quote, you may decide to check somewhere else before making the final decision. Many car insurance companies offer discounts when you combine all your insurance needs with one company. If you have good coverage somewhere else, this might not be a smart move,

Therefore, if you need cheap car insurance and you want to use the online services offered by many different sites, you should be prepared to supply all your information as correctly as possible to receive accurate auto insurance quotes from all the companies that are involved.

Author: You can also find more information at Classic Car Insurance and Compare Care Insurance. Autocarinsurancehelp.org is a comprehensive resource to get help about car insurance.

- baLooT Inc 2007 -

Baby Boomers and Long Term Care Part II

In my previous article, "Baby Boomers and Long Term Care Part I" , we discussed why baby boomers should consider long term care insurance. With the rising cost of medical expenses, long term care expenses and much longer life expectancy, most of us are going to be faced with some kind of long-term care crisis. This article lists look at a couple of things in a little more detail. What is long term care and who needs long-term care.

What is long-term care?

Long-term care is needed when a person can no longer perform the activities of daily living. The activities of daily living are eating, dressing, bathing, toileting, continence and transferring. These "ADL's" usually are caused by chronic illness, a disability due to aging or an injury. Long-term care insurance is also needed in the case of severe cognitive impairment. This includes Alzheimer's, dementia and other brain disorders.

Who needs long-term care?

Anybody could need long-term care at any point in their lives. Approximately 40% of people receiving long-term care are between the ages of 18 and 64.

· More than half of the US population will require long term care at some point in their lives.5

· One out of five Americans over the age of 50 is at risk of needing long term care in the next 12 months.5

· For couples 65 and over, there is a 75% likelihood that one partner will need long term care.6

· 60% of people over age 75 will need long term care and need care for approximately 3 years.7

· There's a 68% probability that people age 65 and over will become disabled in at least two activities of daily living or of being cognitively impaired.8

In my next article, baby boomers and long-term care part three, we will look at the cost of long-term care without long-term care insurance.

Source:

1 Americans for Long-Term Care Security, www.ltcweb.org, August 2000.

2 The Wall Street Journal, June 2000. www.wallstreetjournal.com

3 Business Week www.businessweek.com

4 AARP. Beyond 50: A Report to the Nation on Independent Living and Disability, 2003. www.research.aarp.org

For More InFormation Click Here: More Information

About the Author

Terry Stanfield is SEM consultant with over 15 years of sales and marketing experience. His company, Clickadvantage, manages PPC and SEO efforts for his lead generation and ecommerce clients. For more information go to http://www.clickadvant.com today.

- baLooT Inc 2007 -

Baby Boomers and Long Term Care (Part I)

Baby Boomers Need to Consider LTC Insurance

Long Term Care and LTC insurance is an important issue for baby boomers, their parents and me. The reality of long term care is at the forefront of our minds because of the news and TV. We must ask ourselves what impact an unexpected illness or accident would have on our finances. What is long-term care who needs it and how much will it cost. Before we look at these questions let me share some fun facts about getting "older".

1. Over 40% of all Americans over the age of 65 will spend some time in a nursing home due to a prolonged illness or disability.

2. One year in a nursing home can cost $36,000 to $60,000. Currently, the average cost in a long term care facility in America is $41,000 per year. The average cost of a visit by a home health aide is $52. Daily visits would cost you almost $19,000 per year. Skilled nursing at home, to administer medication or oxygen, for example, five days per week for a year would cost you an average of $94 per visit, or $24,440 per year.

3. Health care plans and Medicare combined pay only about 3% of the costs of long term care. State Medicaid programs rescue only those families who descend to the poverty level. The rest comes out of pocket - nest eggs, funds earmarked for retirement, life savings - or from a long term care insurance policy.

4. In 1983, Medicare began a new program called the Prospective Payment System. Instead of reimbursing hospitals for the actual cost of treating patients, this program now pays a set fee according to 467 Diagnostic Related Groups, or DRGs. Once a patient reaches the arbitrary number of days in the hospital, Medicare payments stop regardless of the individual patient's actual condition or the need for continuing care.

5. 70% of people who are older than 65 will need long term care services.

6. 77 million Americans will turn 50 over the next 18 years. That's 1 person every 7.5 seconds.

7. 43% of individuals age 65 will enter a nursing home sometime in their lifetime, with 50% staying an average of 2.5 years.

8. The national average cost for 1 year in a nursing home is approximately $41,000; in larger cities from $50 to $60,000 annually.

9. 50 percent of all couples and 70 percent of single persons are impoverished within one year of entering a nursing home.

10. For every person receiving care in a nursing home, there are 4 people receiving care outside a facility.

11. The annual cost to companies for lost productivity from elder care responsibilities is $17 billion a year or $3,142 per employee.

12. By 2020, 1 in 3 workers will provide some type of elder care.

Sources: Life Insurance Selling, December 1992 CBS News - Census Bureau New England Journal of Medicine, February 1991 American Association of Homes for the Aging, 1989, Leimberg, 1992 HIAA, "Long Term Care -- Needs, Costs and Financing (1992) Leimberg's "Think About It" Stephan R. Leimberg, JD, CLU (November 1992) U.S. Administration on Aging, July 1991 USA Today, July 19, 1994 Wall Street Journal, July 19, 1995 USA Today, July 19, 1994 Long Term Care Conclusion

Most of us would never dream of not having home owners insurance, health insurance (that's another issue) or auto insurance. After looking at some of the facts and family medical history, the conclusion seems clear that as baby boomers, we must give this a serious look. The challenge for us is too learn as much as we can about long term care so that we can have options and not be caught off guard by an unexpected illness that could wipe out our retirement or add an undue burden on our families.

For More Information About long term care Click Here: More Information

About the Author

Terry Stanfield is SEM consultant with over 15 years of sales and marketing experience. His company, Clickadvantage, manages PPC and SEO efforts for his lead generation and ecommerce clients. For more information go to http://www.clickadvant.com today.

- baLooT Inc 2007 -

Understanding Pet Health Insurance

Insurance as we all know is a type of " risk management" mainly done to evade any sort of risks of prospective monetary loss. However, there are different types of insurance related to matters other than financial-for example different pet insurances to care of your pets.

Among these, pet care insurance or pet health care insurance, is the most common typeHere, some amount is paid to the person, whose pet falls ill or suffers any accident. The pet insurance policy that is paid, is usually limited by the sum that will be paid by three ways-either by putting a check on the total amount to be paid in a year or by putting a check on for each illness or accidents or even putting check on for every claim along with restricting the period of the claim. The pet owner generally has to pay some amount for any claim called premium.

Mostly, these types of insurances are available for cats and dogs only. Sometimes special insurances are also offered for horses. These policies are almost available in all (developed) countries. But the rules and other details regarding the policies differ.

After making a good study on different companies who are engaged in this business it has been found that till now ' the king of the jungle' is VPI pet insurance, which covers almost over 6400 illness, accidents or injury cases. They also cover for vaccines, though generally insurances are not paid for veterinary cares.

Pet insurance has now become the fastest growing form of insurance in the market as it helps us to get the best care for our pet and also helps us to get readyFree Reprint Articles, beforehand for any sort unanticipated emergencies. It also helps us to cope with the rising veterinary costs.

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ABOUT THE AUTHOR

Find more about Pet Insurance on http://www.LeanderNet.com/Pet_insurance/Pet_insurance.php

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Pet Insurance : What To Look For

By: Nicholas Hunt

Keeping a pet is a rewarding experience which many of us enjoy, but it can also be expensive. As well as all the routine costs such as food and grooming, you can also come up against unplanned expenses such as veterinary bills through sickness or accident. These bills can unfortunately be very high, so to ensure that their pets can get the treatment they need many people decide that taking out pet insurance is a sensible way of helping to cushion these costs. But what should you be looking for in a pet insurance policy?

The first thing to consider is what kind of pet you have. The cheapest kind of pet insurance is that for the most common pets - cats and dogs. Prices for these policies can be very reasonable indeed, amounting to only the cost of a few tins of pet food a month. If, however, you keep a more unusual kind of animal as a pet, then the price you pay may well be higher. Make sure that any policy you take out specifically includes your kind of pet, as many will exclude more 'exotic' kinds of animal.

The main reason for considering pet insurance is cover for medical treatment, but there are some exclusions that you need to be aware of. Firstly, your policy will almost certainly not cover routine treatments such as vaccinations, flea control, or worming. Secondly, you won't be covered for any pre-existing conditions that were already known about when you took out the policy (you should also declare any existing conditions when you take out the policy, or you risk it being declared invalid when you come to make a claim).

You also need to check your policy for claim limits: there may be a time limit of cover, so for example a long-term condition such as arthritis may only be covered for a period of 12 months, after which you will be responsible for meeting the bills. There is also usually a limit to the total cost of medical bill claims you make in any one year, but this is usually high enough to cover almost any conceivable situation.

Another major reason for taking out insurance is to help you cover the costs of getting your pet back if it goes missing. Most policies will contribute towards advertising in local newspapers etcetera, and also to providing reward money for the safe return of your pet.

Another very important part of your insurance cover is public liability, especially for dog owners. Even the calmest and most well behaved of pets could possibly cause damage to someone's property, or even cause an injury to a person. In this thankfully rare event, you could be open to huge legal bills and compensation claims - make sure that your policy includes a substantial amount of third party liability cover as standard.

Finally, check whether the policy you're considering places a limit on the age of your pet. Many policies are only available to, for example, cats up until the age of eight years. As it is in later years that your pet is most likely to need treatment, it obviously makes sense to ensure your policy will cover this, especially if your pet has a few years under their belt!

Source: ArticleGOLD

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How to Get a Cheap Travel Insurance ?

Insurance is getting costlier by the day. In case you do not buy an insurance you may end up paying a lot more and may even end up bankrupt. This is a catch-22 situation, either way you have to pay. However the smart individual can reduce the amount he pays on insurance to a great extent by keeping in mind few things.

Buy travel insurance online-Buying travel insurance online can save up to 20% of the cost as you do not have to pay to an agent. Most travel insurance companies encourage buying online as it reduces their overhead costs also.

Group travel insurance-If you are traveling to a place in a group, it is smarter to buy group travel insurance or a cheap family travel insurance as the premium will be marginally higher than for an individual. However if all individuals buy separately they will end up paying lot more than if they had bought a group cover.

Existing insurance covers-Most health insurance covers in the United States provide for health insurance in foreign countries also. Hence check up whether your existing health insurance provides cover and to what extent and then buy a travel insurance policy. Also check up whether your home insurance covers and auto insurance covers. Most auto insurance covers do not cover for driving in foreign countries. The idea is if you are already covered partly, then buy the travel insurance to cover the remaining items you wish to, rather than paying for the entire cover.

Deductible-Deductible is the amount of the bill you pay and the rest of the bill is paid by the travel insurance company. The higher the deductible, the lesser the premium.

Co-insurance-Co-insurance is the percentage of bill that you will have to pay when claiming costs under an insurance cover. The higher the co-insurance the lesser is the premium. It is a matter of striking the balance between deductiblet, co-insurance and premium to suit your pocket.

Source: ArticlesFactory.com

ABOUT THE AUTHOR

Find more about Travel Insurance on http://www.LeanderNet.com/Travel-insurance/Travel-insurance . More useful content on LeanderNet - http://www.LeanderNet.com

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Travel Insurance – do I need insurance for a holiday in the UK?

Don't assume that Travel Insurance for a holiday in the UK is a waste of time. It can make sense - but buy online for a bargain.

Last week my wife and I booked a two centre holiday on the Scottish Isles. Seven days on Skye and then a ferry over to Steornabhagh for a further seven days on the Isle of Lewis. Wonderful scenery, plenty of walks and masses of peace and quiet.

You could have blown me over when my local travel agent assumed that I wanted travel insurance for an additional £27.50. Not on your Nellie the Lock Ness monster, I thought. Who needs travel insurance for a holiday in Britain? The National Health Service is free and in an emergency, my son could drive up and bring us home.

Later in the relaxing setting of my sitting room I got to thinking …………..

Holiday misfortunes don't only happen abroad. So with my pessimistic hat on, I made a note of the risks:

Some rotter might steal our luggage

Last week I bought an all singing and dancing digital camera especially for the trip. Got it on the Internet. I might lose it whilst away.

If either of us were hospitalized we wouldn't want to be marooned on Skye. We'd want to transfer to our local hospital in Warwickshire.

My wife's parents are getting on. God forbid, but I'd have to cancel the holiday if something happened to them just before we're due to go.

One of us could be taken ill before we depart and we'd be forced to cancel. As the ferries and the hotels were non-cancellable, we'd lose everything we'd paid.

There may be a major delay at the ferry going over to the Isle of Lewis. Besides the inconvenience, we have to arrange an extra overnight stay on Skye.

One of us might be called up for jury service.

Then it struck me. If I were holidaying in the Britain, my existing Home and Contents policy might cover me for loss of my camera or luggage. I dug out the policy document. Lucky I did. I was only insured for “personal possessions” if they were listed and as I'd just bought my digital camera I hadn't got round to listing it as a valuable item on my policy.

Another aspect struck me. I'd lose my no claims discount if I made a holiday related claim on my Home & Contents policy. That wouldn't be a good idea. I've got a ten year claims free record that policy and it still cost me £310 a year. I jotted down a another note – remember, when the policy comes up for renewal, see if I could get it cheaper on the Internet.

By now a travel policy at £27.50 for was looking worthwhile after all.

Now my wife says I'm a bit of an old skin flint. So keep up the image! I know, get back online and check out the travel agents' policy at £27.50. Is it competitive?

Not all the web sites I surfed could offer me a single trip travel policy for a holiday within the UK but within ten minutes I'd found what I wanted - and a saving of over £10!

Time to study the small print to confirm I had the cover I wanted. GreatFree Web Content, all the risks I had noted were covered. The insurer would even pay out £30 if my ferry was delayed for up to 12 hours and then give me the option to cancel my trip to the Isle of Lewis and get my money back.

Now what wouldn't they pay for? I wasn't covered if my holiday was for less than two nights or my hotel was less than 25 miles away from home. I also had to meet the first £30 of any claim. Seemed fair to me.

The decision was made. Simply type in my credit card details and I was insured in a CLICK.

Peace of mind restored!

Source: ArticlesFactory.com

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10 Important Things to Remember When Buying Life Insurance

It is always better to find out vital information about life insurance prior to buying cover. This ensures that you obtain the best cover your money can buy.

10 facts about life insurance are:

1. Research the market: It is nearly always preferable to investigate all the cover available and to be clear about the monthly fees before deciding. A great place to source this info is online.

2. The sooner the better: Do not procrastinate in buying a life insurance policy. The best time to purchase a policy is when you are young and in employment. This will give you a choice of great policies.

3. Do not get too much: Try to have just the correct amount of insurance that is within your budget. Getting too much cover will attract increased costs which is unnecessary.

4. Always tell the truth: Never try to misguide when completing the insurance application. If you are discovered hiding facts, such as smoking, the insurance provider may terminate your plan.

5. Stay healthy for lower costs: Health conscious individuals pay the least expensive fees. But, habits like cigarette smoking, too much alcohol, intake of drugs and obesity can make your premium sky high.

6. Never pay unnecessary fees: The fees of some insurance coverage are high due to the fact they also incorporate the commissions of the broker. To prevent this, go with an insurance company that offers policies sold direct.

7. Monthly fees can cost more: One way to keep costs down is to avoid monthly costs. You should therefore go for bi-annual or annual premiums, which are discounted.

8. Check your cover from time to time: You should check your cover when there is a major change in your circumstances, like the birth of a child or your children starting university. Occasional reviews help you to ensure that you are paying the right fees, and that you have the right level of cover.

9. Do not rely upon your employers insurance cover: Most employees are provided with company insurance by their employers. But this may be insufficient for your requirements. Additionally, the group insurance policies get cancelled when you depart the company and because of this can not be relied upon.

10. Higher cover could be cheaper: With life insurance, monthly fees get less expensive as you go for increased cover. As such there is nothing wrong in increasing the coverBusiness Management Articles, if your budget will allow it.

Don't leave it to chance. Get financial protection for your family with life insurance from Protected .

Source: ArticlesFactory.com

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